Preventing Asic mining after next halving would solve a lot of problems.

Actually we are in a phase of centralising the bitcoin network, from individuals to companies belonging big asic farms.

Satoshi for sure never planned asic mining. 99% of the bitcoin community would benefit when asic mining is prohibited.

Without asic mining we would never have such a bump and dump scenario we have actually. Big asic farm holder selling their bitcoins to be able to pay the electrician and to cut out competition due low efficiency of mining.

Actually there are less miners then we had 1 year before. I don´t have exact stats but I am guessing that 4-5 big asic farming companys control the market while one year ago it was spread into 1000 of miners. This is centralization for me.


So when 4-5 big mining farms control the full hashing power this is for you consolidation. Consolidation means to do something solid or firm; solidify; strengthen: , this is the wikipedia translation of this word.


You could enable only script mining like litecoins, I am not affine with the developing structure behing that, but there are altcoins where you can´t asic mine.


This kind of dumping we have right now would never happend without asic mining, because without asic mining there were 1000 of miners sharing their mining earnings. Actually there are only some big farms who mine the mayor part of bitcoins and control the market. They can move the markets dramaticly.


This is not capitalism, this is monopolism. You have some companys create new asic hardware, this companys mine thereself or sell their main parts to just 4-5 big companys.

My guess is that you confuse pools with miners and mining farms. Just because there are "only" 4-5 big pools, does not mean that all their hashing power belongs to them.



An ASIC is just a special purpise chip that does what a general purpose chip (CPU, GPU) does, but with higher energy efficiency and usually faster. There is no real way to prevent special hardware. There are litecoin (or better scrypt) ASICs. IMHO if a coin has no ASIC or GPU support yet its not because its not possible, but because its to expensive because the value per coin is not high enough.


What makes you think that its miners that sell coins atm? Why not those two brothers?



Again, assumptions, gueswork. Do you have at least signs that your claims are true?

What is so hard to understand that actually a small rate of asic holders are mining all amount of bitcoins, 2 years ago it were tausends of miners mining the amount of bitcoins. And 1000 of miners are unlikely selling all their bitcoins at once like its happening now.


Bitcoins are not designed for being mined from a small group of investors having the money and the power producing and generating the mayor part of bitcoins.


Well like I said i am not technic affine, but honestly I think I understand more about economics then you. If this is true then POW in this initial form is the problem.


mo·nop·o·lize  (m-np-lz)
tr.v. mo·nop·o·lized, mo·nop·o·liz·ing, mo·nop·o·liz·es
1. To acquire or maintain a monopoly of.
2. To dominate by excluding others: monopolized the conversation.

Why you are insulting me, you seems like having no clue about economics but acting like you know.

Actually, that is exactly how bitcoin was designed.  Satoshi said so himself.


Clearly.


It's possible, but given your ability to understand anything you've commented on so far, I doubt it.


POW is currently the best known solution to the byzantine generals problem.  If you have a better solution, let me know.


Sorry. I thought you used the word "monopolism" (which is a noun meaning the existence or prevalence of monopolies), not "monopolize" (which is a verb that can either describe the act of maintaining a monopoly OR can describe the act of excluding others).

A monolopy is the exclusive possession or control of the supply or trade.

Regardless, in general use (at least in the English language here in the U.S.), a monopoly is when a SINGLE entity is in control of an overwhelming majority of something.  If you have two or more entities, that is not a monopoly.  That is healthy competition between multiple entities, and is how capitalism generally operates.  Even within capitalism, monopolies can occur. Without regulation, as long as the monopoly supplies a desired product or service at an acceptable price, the monopoly can continue to exist indefinitely.  If the monopoly attempts to use their control of the market to provide reduced value at an increased price, then they open themselves up to competition from others.  If you don't like the idea of free market forces controlling the system and you prefer some sort of regulation to prevent consolidation of mining, then you aren't going to like Bitcoin very much.


I'm doing the best to answer your questions, correct your mistakes, and point out that your trolling FUD is rather ridiculous.  The crap you are spewing here has been stated and debunked hundreds of times on this forum.  

All I am trying is to argue that asic mining is not a good thing for the community. Its neither trolling or ridiculous. If there is any chance to get back into CPU / GPU mining it would do things better.

Thanks for the link andytoshi

Seems like they have at least the same understanding about the words I was using before and not like the ignorant guy DannyHamilton.

Well he might have knowledge but he is clearly ignorant, because he has his own opinion and don´t respect other kind of opinions, plus he is insulting me.

"and point out that your trolling FUD is rather ridiculous.  The crap you are spewing here has been stated and debunked hundreds of times on this forum"

Not that my opinion accounts for too much... but YES, absolutely this ^^^

At the risk of being argumentative, the problem of mining pools, or rather of poorly implemented mining pools, does exist. It's not something that I've pointed out, but rather something that gmaxwell (et al.) has pointed out many times (most recently here).

This has nothing to do with ASIC vs "ASIC-resistant", but it has everything to do with centralized mining, and the way in which most miners unfortunately choose to participate in it today.


You're welcome to propose a superior alternative, but you must back that alternative up with more that just your personal opinion.

Isn´t it theoretically possible to build a algorithm which makes actual asic miners worthless. Some kind of a script which change itself every period of time and would require other sort of asic miner, just to prevent asic miners?

This.

If you want to discuss a technical topic, it is important to be precise. Danny is quite good at ensuring discussions are well defined and has provided a lot of useful information while others just tune out.